WASHINGTON (TNND) — President Donald Trump opened the “Most Favored Nations” drug pricing to nine additional manufacturers, bringing the total to 26 companies signed onto the agreement. The policy allows drug costs to be matched with prices outside the U.S. The prices are available at TrumpRx.gov.
In an interview with The National News Desk, Administrator of the Centers for Medicare and Medicaid Services Dr. Mehmet Oz said the agreements could reduce Medicaid spending, freeing up money for states to use elsewhere.
I want to emphasize Medicaid patients don’t really pay for their pharmaceuticals. That’s covered often by the Medicaid program,” Oz said.
“So it’s actually money. It’s going back to the states they were talking about when we discussed Medicaid,” he added. “And that’s going to allow the states to be able to use that money to improve education, pay for other medical services; a lot of opportunities could arise if we can get that right.
On the Medicare side, Oz said the “Most Favored Nations” allowed senior citizens to access weight-loss drugs at a lower price.
“One of the most successful programs we’ve ever had is a program to give seniors who are eligible the GLP-1 drug,” Oz said.
The deals that the companies entered into for “Most Favored Nations” are voluntary. When asked if he would press Congress on “Most Favored Nations,” Oz said that it’s a “possibility.”
That’s a possibility. I must say, because Wall Street rewarded these companies by increasing their value. Literally. The stock prices went up. Most companies won’t have an incentive to do that, but it’s possible or for other reasons. The companies may say we’re not into this anymore, so we should codify. But in the meantime, at least through the end of this administration, we know we’ll see continued drug drop in prices,” Oz said.
Oz said the TrumpRx website assists patients with the best prescription prices. He said there is “$700 million in savings so far.”
Just make sure the price you’re paying is the best price out there. You go to your pharmacist. They’ll help you as well. I’ve been traveling around and pharmacies love this experience, as do patients because it works,” Oz said.
